Libra Has ‘Failed’ in Its Current Form Says Swiss Finance Minister

Libra, the much-scrutinized proposed cryptocurrency from Facebook (NASDAQ:FB), has “failed in its current form,” according to Swiss President and Finance Minister Ueli Maurer. Swiss President Critical of Libra Basket Maurer, who is in the final days of his year-long term as President of the Swiss Confederation, was speaking to the country’s national TV network SRF when he said, “I don’t think (Libra has a chance in its current form), because central banks will not accept the basket of currencies underpinning it,” adding that “the project, in this form, has thus…

DLive Joins BitTorrent Ecosystem to Make Blockchain-Based Content Sharing Mainstream

Peer-to-peer filesharing giant BitTorrent announced on Dec. 30 that DLive, the blockchain-based live streaming platform, will be joining its ecosystem. Through this partnership, DLive will bring peer-to-peer content sharing and live streaming capabilities to BitTorrent’s 100 million monthly active users. DLive, which was launched nearly 2 years ago, already has over 5 million monthly active users and a passionate live streaming community. In April 2019, one of the world’s most famous YouTubers, PewDiePie, conducted his first live stream on DLive. PewDiePie has since co-streamed on DLive with famous YouTubers like…

The Biggest Crypto Winners and Losers of 2019

Even though the cryptocurrency industry is not new to ups and downs, 2019 has turned out to be the year with the most surprising reveals. The long-lasting bear market of 2018 moved market analysts to call it the year of regulatory reckoning, leaving many jurisdictions uncertain about how to treat cryptocurrencies. However, 2019 also turned out to be the year of the comeback, as big tech giants like Facebook moved from banning crypto to embracing it.  Escalating global events such as the trade war between the United States and China…

Poloniex Crypto Exchange Confirms Data Leak After Awkward Email

Cryptocurrency exchange Poloniex has forced a password reset for all customers due to a leaked list of email addresses and passwords on Twitter. On Dec. 30, the exchange emailed its customers to inform them that a list of leaked email addresses and passwords could potentially be used to log in to Poloniex accounts. The exchange forced a password reset on any email addresses that have an account with the exchange. The email reads: “While almost all of the [leaked] email addresses listed do not belong to Poloniex accounts, we are…

Chinese Bitcoin Miners Pressured to Scale Down Due to Electricity Shortages

Bitcoin (BTC) miners in the Chinese province of Sichuan are reportedly under pressurelocal authorities to scale down their operations due to electricity shortages. On Dec. 29, the Asia Times reported that during the dry season, which extends from October through April, the electricity supply drops drastically in Southwest China, which is why local authorities are tightening the screws on mining companies to scale down their operations. Bitcoin farms tolerated during wet seasons only Bitcoin mining companies are officially prohibited but are tolerated in the Sichuan province during the wet seasons…

COSO to Release Guidance on Blockchain for Businesses Aiming to Deploy Tech

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is planning to release guidance on blockchain for companies looking to deploy the technology. As The Wall Street Journal reported on Dec. 27, COSO — an initiative to fight corporate fraud — is working on guidance on blockchain to give a better understanding of the tech for businesses that aim to integrate it into their internal processes. COSO expects to release the guidance in the first quarter of 2020. To improve supply chains Specifically, the guidance targets executives in financial…

IOTA Fixes Issue After Freezing Mainnet Transactions for 24 Hours

Users of IOTA, the 24th biggest cryptocurrency by market cap, were unable to confirm transactions for 24 hours due to a mainnet incident on Dec. 29. According to an official statement on the issue, the IOTA network experienced a mainnet incident that began at 2:50 AM UTC on Dec. 29, and was fully resolved by 2:50 AM UTC on Dec. 30. The incident was caused by an unusual set of transactions that may have been constructed as an attack As described in a Dec. 30 blog post by Iota Foundation,…

Hashing Ahead: A Look at Bitcoin Mining in 2020

The December 2019 report on the Bitcoin mining network from CoinShares Research, a division of the digital asset management firm, presented an industry in good health at the end of the year, with a hash rate that had almost doubled in the previous six months, a new generation of more powerful and efficient technology on the market and the continued use of sustainable, renewable energy. The report indicated that, at this year’s average bitcoin price, fee ratio and block frequency, miners were on their way to making $5.4 billion in…

Katherine Wu on DeFi and the Inevitability of the Digital Yuan

Katherine Wu was a founding team member at Messari before moving into a VC role at Notation Capital, but is perhaps best known in crypto for her epic annotations of key regulatory enforcement actions. In this end-of-year interview with The Breakdown, Katherine argues that decentralized finance is the narrative of 2019, but also that when it comes to 2020, the emergence of a Chinese digital yuan is likely to have a huge impact on the crypto space.  Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet…

$1M Bond to Keep Alleged North Korea Sanctions Violater Griffith in Alabama for Now

After having been denied bail on Dec. 26, Ethereum foundation researcher Virgil Griffith has now been released on a $1 million bond on the condition that he stay out of California. On Dec. 30, the Inner City Press reported that the 36-year-old Griffith has been released after a bail appeal hearing earlier today. The hearing took place in front of United States District Court for the Southern District of New York Judge Vernon S. Broderick, who granted a $1 million bail and ordered Griffith released, on the condition that he…